Wednesday, October 30, 2013

Fullerton India Wins Financial Inclusion & Payment Systems Award 2013

Fullerton India Wins Financial Inclusion & Payment Systems Award 2013
Fullerton India Credit Company Limited, a leading Non-Banking Finance Company in India, has been conferred the Financial Inclusion and Payment System Award 2013’ held in in Delhi on the 25th of October. The project that won the award was the biometric based 'Smart Handheld device on Field' device, which facilitates the loan installment collection process in the rural markets. This system has been a unique feature of Fullerton India’s rural business operations – offering both convenience and transparency in transactions to customers. Currently Fullerton India’s rural business which operates under the brand name – “Gramshakti” does over 1.5 Million transactions through these hand held biometric devices every month.

The award was received by Samir Khare, General Manager - Business Solutions on behalf of Fullerton India and was handed over by Mr.J.Seelan, Minister of State for Finance, GOI and Mr. R Chandrashekhar, Ex Telecom Secretary and President Designate, NASSCOM.


Commenting on the exciting win, Mr Ravi Shankar, Executive Vice President Marketing & Rural Business stated, “We, at Fullerton India, have a long term vision of improving financial inclusion and helping enhance livelihoods of people by providing them access to quality financial services.

To enable this we have invested in unique technology systems to serve the customer better and faster. The use of biometric authentication processes and transaction devices have enabled speedier servicing of customers and also built a great level of transparency, trust and customer confidence in transactions with them. Our Gramshakti branches are fully computerized and are linked with central systems and all operations are online providing access to customer information and transactions on a real time basis.”

Fullerton India believes that making quality financial services available at the doorstep of the customer is financial inclusion in the truest sense. Fullerton India’s Gramshakti network has an enviable reach in over 23000 villages through its 147 rural branches that cover the last mile between the branch and the end customer in each village in the catchment, enabling financial inclusion of the under-served and un-served segments of the rural markets.

About Fullerton India Credit Company Limited

Fullerton India Credit Company Limited is one of India’s leading Non-Banking Finance Companies (NBFC). It has 368 branches spread across 20 states in urban and rural centres, covering more than 400 towns. It offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. Fullerton India has a widespread reach in Rural India through its network of 147 rural business branches called Gramshakti, which service over 23,000 villages. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.